guesstimates
Ballpark figure attempts
Guesstimates are estimates based more on guesswork than solid data—rough calculations when precise figures aren't available.
The word blends guess and estimate, suggesting something between the two: These are just guesstimates, but I'd say we need about fifty chairs.
The verb guesstimate means to produce such a figure.
Near but inexact values
- hunchesIntuitive suspicions
- educated guessesEstimates grounded in knowledge
- ballparkingEstimating without precision
- spitballingOffering untested ideas freely
eyeballing · seat-of-pants · off-the-cuff · gut feelings · wild guesses · shot in the dark · rough idea · close enough
Estimates extending forward
- forecastsPredicts future conditions
- ballpark figuresRough numerical estimates
- budget planningPredetermined spending allocation
- financial planningOrganizing future monetary goals
feasibility studies · pitch decks · venture capital · resource allocation · capacity planning · risk assessment · back-of-envelope · order of magnitude
Unproven things taken as true
- variablesChangeable elements in equations
- parametersDefined boundaries or constraints
- confidence intervalsBounds for estimated parameters
- margin of errorAllowable deviation from truth
Monte Carlo · calibration · heuristics · proxies · extrapolation · interpolation · base rates · sanity checks
Facts with gaps
- assumptionsUnproven things taken as true
- constraintsLimits on action
- unknownsUndetermined quantities
- inferenceConclusion reached through reasoning
approximations
Near but inexact values
- hunchesIntuitive suspicions
- educated guessesEstimates grounded in knowledge
- ballparkingEstimating without precision
spitballing · eyeballing · seat-of-pants · off-the-cuff · gut feelings · wild guesses · shot in the dark · rough idea · close enough · in the neighborhood
projections
Estimates extending forward
- forecastsPredicts future conditions
- ballpark figuresRough numerical estimates
- budget planningPredetermined spending allocation
financial planning · feasibility studies · pitch decks · venture capital · resource allocation · capacity planning · risk assessment · back-of-envelope · order of magnitude · strategic planning
assumptions
Unproven things taken as true
- variablesChangeable elements in equations
- parametersDefined boundaries or constraints
- confidence intervalsBounds for estimated parameters
margin of error · Monte Carlo · calibration · heuristics · proxies · extrapolation · interpolation · base rates · sanity checks · triangulation
incomplete information
Facts with gaps
- assumptionsUnproven things taken as true
- constraintsLimits on action
- unknownsUndetermined quantities
inference · deduction · reasoning · hypothesis · quick-and-dirty
guesstimatespinpoint accuracy
guesstimatesforensic accounting
Examining records for fraud
empirical data · controlled experiments · mathematical proofs